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Tech Stocks Fall Amid AI Exhaustion
Falling stocks
Global markets have been under pressure this week as tech stocks — including SpaceX — continue to slide.
Why It Ticks: Tech companies at the forefront of AI are posting losses, raising concerns that the sector may be entering bubble territory.
SpaceX shares continued to fall for three straight sessions, plunging 16% on Monday for the company’s second-largest one-day loss on record. The stock fell below $150 on Tuesday morning — near where it opened earlier this month — leaving SpaceX down roughly $600 billion in value since its Nasdaq debut.
Meanwhile, the company is readying to sell investment-grade bonds for the first time, according to Bloomberg, fueling speculation that this could be “the start of a massive borrowing spree” to fund its AI ambitions.
And it’s not just SpaceX. Tech stocks across Asia also declined, suggesting the recent pullback is evolving into a much broader story.
Final Dividend: With AI leaders, chipmakers, and other tech stocks continuing to tumble, some investors are beginning to wonder if the market is showing early signs of “AI exhaustion.” As Alexander Redman, chief equity strategist at CLSA, put it, “It’s unnerving that you’re seeing this kind of volatility.” The bigger question, though, may be whether this is merely a reset — or, as Redman suggests, “the beginning of the end.”
The Future: The answer may not be far off. When Anthropic and OpenAI eventually hit the public markets, investors could get their biggest opportunity yet to weigh in on the future of AI.
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Today’s email was written by Deena ElGenaidi and Kait Cunniff.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.